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Dubai, UAE, United Arab Emirates, 2007/04/16 - In conjunction with the company’s 14th AGM, Union Properties PJSC organized an Open Day that showcased the historical achievements and growth of the company - UP.ae.

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Union Properties PJSC (UP), one of the leading property developers in the United Arab Emirates organized an Open Day on April 16, 2007 at the Jumeirah Emirates Towers to mark the company’s 20th anniversary. The ceremony was inaugurated by Anis Al Jallaf, Chairman, Union Properties PJSC, Simon E. Azzam, Chief Executive Officer, Union Properties PJSC and the company’s Board Members. Held in conjunction with the company’s 14th Annual General Meeting, the one-day event showcased UP’s tribute to the past and its focus for the future by highlighting the shared visions of development adopted by the company and the Emirate of Dubai.

“For 20 years we have measured our success at UP by our ability to exceed our goals and focus on the future,” commented Anis Al Jallaf, Chairman, UP. “It’s this focus, our knowledge, and our attention to detail that has earned us our solid presence in the industry today. We have focused on applying our industry expertise to all our ventures and our success is the result of our passion for uncompromising excellence in every project undertaken and dedication to quality in our past, present and future.”

“UP’s growth over the past 20 years is greatly attributed to the Government of Dubai’s infinite support for the private sector that has largely contributed to the economic development and diversity of city’s investment segments, making the property development market a key element of growth besides trade and tourism,” said Simon E. Azzam, CEO, UP. “UP has sustained this growth in line with the Government of Dubai’s vision, their innovative approach, ambitious development plans, commitment to quality and ambition to excel.”

UP was launched as Union Property Private Limited in 1987 and floated as a public limited company in 1993. In 1987 the company’s net assets were worth AED one million and in 2006 the company represented an annual turnover of more than AED 2.5 billion, with net assets of more than AED 4.5 billion, and still growing rapidly. With over 24 projects, the company has created a portfolio of iconic landmarks in commercial, residential and leisure developments, from high-rise towers to multi-use complexes, hotels and theme parks. Index, Limestone House, MotorCity, Green Community, UPTOWN Mirdiff, Net.community and The Tower are but some of the renowned UP developments.

“UP’s success has always been based on six basic principles; quality, service, innovation, care, trust and diversity,” added Azzam. “We seek to apply these principles to our future that is currently dedicated on growth at a global level and we strategically branded our developments in UAE to generate brand awareness for the local and international market.”

UP (up.ae) aims to identify and invest in the business opportunities beyond the UAE and form elaborate strategic partnerships such as the ones the company currently has with the Formula One Administration (FOA) for developing F1 Theme Parks.

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